Money Laundering Privacy Statement
Last updated 4 May 2021
The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 require us to tell you about how we will use any personal data supplied to us in the course of our client onboarding process.
What personal data may we collect?
In order to comply with our regulatory obligations, we may collect the following:
- Personal information, such as name, address, date of birth and nationality
- Personal identification documents that may reveal race or ethnic origin
- Information that may reveal criminal convictions or offences information
How will we use the personal data?
Personal data will only be used for carrying out customer due diligence for the purposes of preventing money laundering and terrorist financing, or in order to comply with other legal and regulatory obligations.
If we wish to process personal data for any other purpose, we will contact you before doing so.
Do we share personal data with third parties?
We may share your personal data with our trusted third party – Equifax – who will assist us in carrying out customer due diligence for the purposes of preventing money laundering and terrorist financing. Equifax will process personal data in accordance with their Information Notice.
How long will we retain your personal data?
We are required by law to retain customer due diligence files for at least five years after business relationships end and have processes in place to ensure your personal data is appropriately deleted in accordance with this requirement.